Gold futures broke through $4,000 per ounce, while spot prices briefly reached $4,031 per ounce in Asian trading—an all-time high. The surge comes amid political uncertainty tied to the U.S. government shutdown, a weaker dollar, and expectations that the Fed will loosen policy.
Gold’s move reinforces its role as a classic hedge. At the same time, observers note that the rally raises a key question for crypto markets: Does Bitcoin (BTC) have room to extend its gains next?
Several analysts, including Crypto Rover, suggest that the current macroeconomic climate—characterized by declining real yields and optimistic liquidity expectations—supports a favorable narrative for BTC, often referred to as “digital gold.”
Bitcoin and BNB Lead Market Gains
As gold set a record, Bitcoin traded around $124,511 (about +0.9% 24h, +9% 7d) with a market cap of $2.48 trillion. BNB rose roughly 5.1% to $1,241, reflecting a shift toward risk-on sentiment among some market participants.
BNB’s advance alongside BTC is often viewed as a sign of capital rotation from the benchmark asset into other large caps when liquidity improves.
Commonly cited supports for BTC’s outlook include:
- Expectations of looser monetary policy and lower real rates,
- Persistent demand for safe-haven assets, and
- Rising trading volumes and participation.
Even so, risks remain. A swift resolution to the U.S. shutdown, a stronger dollar or higher real yields, and profit-taking could all pressure momentum.
Currently, the macroeconomic environment favors hard assets such as gold and Bitcoin. Gold's recent record high indicates an increasing demand for safe-haven investments. Market observers will be looking to see if Bitcoin can sustain its momentum and test crucial levels in the fourth quarter. Given the elevated volatility, it is essential to maintain discipline and practice effective risk management.
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